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Dollar General shares crater 25% as retailer cuts outlook
Dollar General’s shares fell 25% after it revised its full-year sales and profit forecasts downward, indicating financial strain among its lower-income customers.
The retailer now expects same-store sales to rise by 1.0% to 1.6% and earnings per share to be between $5.50 and $6.20, lower than previous estimates.
In its second fiscal quarter, Dollar General reported earnings of $1.70 per share on revenue of $10.21 billion, missing analyst expectations, CNBC has reported.
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